The global canned tuna market size was USD 7.74 billion in 2019 and is projected to reach USD 10.60 billion by 2032, exhibiting a CAGR of 2.50% during the forecast period based on our analysis in the existing report. North America dominated the canned tuna market with a market share of 40.05% in 2019. Moreover, the canned tuna market size in the U.S. is projected to grow significantly, reaching an estimated value of USD 7.83 billion by 2032, driven by growing cross-culture food trend and rising demand for protein-rich meat and seafood in the country.

The market growth is fuelled mainly due to the increasing consumption of various packaged food products and beverages. Canned foods consist of various meat, fruits, vegetables, and fish that are precooked or are ready to cook for ease of consumption. Owing to the busy lifestyle and rise in the working population the consumption of convenience food products has spurred in recent years. This directly aids in the growth of this market.

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Canned Tuna Market Report Highlights:

  • Detailed analysis of the COVID-19 pandemic’s impact on the market.
  • Strategic insights for crisis management to navigate market disruptions.
  • Comprehensive evaluation of the factors influencing market growth.
  • In-depth data on key regions and leading market players.

Market Driver:

High Demand for Ready-to-Eat Food Products Driving Market Growth

The growing preference for ready-to-cook and ready-to-eat foods is a significant factor driving the canned tuna market. This shift is largely due to the busy, sedentary urban lifestyle, along with the increasing participation of women in the workforce. As more consumers recognize the benefits of convenience foods—such as ease of preparation, nutritional value, and quick consumption—the demand for such products is expected to continue rising. In response, manufacturers are focusing on developing innovative, high-quality ready-to-eat options. For example, in February 2019, Chicken of the Sea, a leading seafood brand, introduced a resealable, single-serve recyclable cup of wild-caught tuna, designed to cater to the growing demand for on-the-go food among millennials.

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Regional Analysis:

North America to Drive Market Growth with Increased Processed Food Consumption

North America is expected to see strong growth during the forecast period, driven by high consumption of processed foods and beverages. The region’s growing demand for convenience foods, combined with a robust supply chain, will contribute significantly to market expansion. Additionally, the establishment of production units by multinational processed food companies in the U.S., Canada, and Mexico will further boost the market. The large migrant population and the increasing popularity of cross-cultural food consumption, including Japanese and Indian cuisines, will also play a key role in supporting market growth.

Asia-Pacific to See Significant Growth

The Asia-Pacific region is projected to experience substantial growth, fueled by a large millennial population, rapid urbanization, and a growing demand for convenience food products. These factors are expected to drive market development as the region continues to embrace modern, on-the-go food options.

LIST OF KEY COMPANIES PROFILED:

  • Thai Union Group PCL (Thailand)
  • StarKist Co. (U.S.)
  • A.E.C. Canning Company Limited (Thailand)
  • American Tuna Inc. (Unites States)
  • Bumble Bee Foods LLC (United States)
  • Century Pacific Food Inc. (Philippines)
  • Crown Prince Inc. (United States)
  • Grupo Albacora SA (Spain)
  • Wild Planet Foods Inc. (United States)
  • Golden Prize Canning Co. Ltd. (Thailand)
  • Ocean’s (Canada)
  • Dongwon Enterprise Co., Ltd. (South Korea)

Key Development:

  • April 2019: John West Foods Limited launched a new range of canned tuna-based cracker toppers, offering convenient snack alternatives and further expanding its product portfolio. This innovation caters to the growing demand for on-the-go, easy-to-consume food options.

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